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R700 million fund to boost SA-owned township businesses â how to apply
4 June 2021 2:38 PM TREP
Africa Melane interviews Tumi Sefolo, Executive for Direct Lending at the Small Enterprise Finance Agency.
South African-owned, registered township or rural businesses may apply to get their share of the R694 million fund
Businesses will receive payment, part of which is a grant (the rest is a loan)
The payments are mainly for working capital, but also for equipment, depending on the business type
A fund worth R694 million has been created to boost township entrepreneurs.
The capital has been allocated to South Africa s Township and Rural Entrepreneurship Programme (TREP), which offers financial support to small businesses in the informal economy.
Applicants for tourism fund urged to be patient
By Given Majola
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The Department of Tourism has urged applicants for the R1.2 billion Tourism Equity Fund (TEF) to be patient, as the dispute over the qualification criteria for the fund would have to be resolved in court.
The department announced its intention to defend the constitutionality of the fund’s criteria in court.
The TEF is managed on the department’s behalf by the Small Enterprise Finance Agency.
The TEF is intended to fund majority black-owned and black management-controlled tourism enterprises (minimum 51 percent) in accommodation, hospitality and related services, and travel and related services, products and initiatives, through a combination of grant funding, concessionary loans and debt finance to support equity acquisitions and new and expansion developments in the tourism sector.
This govt programme aims to boost rural and township entrepreneurs TREP is a dedicated programme to transform and integrate opportunities in townships and rural areas into productive business ventures. Shipping containers transformed into hair salons line the business district of Cape Town s townships. With hair styles like iTwist, mistress and cheesekop; township hair styles are trending. Picture: Anthony Molyneaux/Eyewitness News
Read more small business good news on Vutivi Business News.
The Department of Small Business Development has released the details of its dedicated programme to boost rural and township entrepreneurs. Dubbed the “Township Rural Entrepreneurs Programme” (TREP), which was launched last year, the department has partnered with its agencies, the Small Enterprise Development Agency (Seda) and the Small Enterprise Finance Agency.